“Over the past ten years as CEO, Brian has transformed Hasbro. His vision to set a differentiated strategy for the company, including investing in new capabilities and establishing a new culture, has dramatically increased shareholder value.”

Recent activity among Hasbro’s top executives has seen chairman and CEO Brian Goldner’s contract extended a further two years through to December 2022.

Meanwhile, John Frascotti’s duties have been expanded to add chief operating officer to his current role as company president. Frascotti has also been appointed to Hasbro’s board of directors.

“Over the past ten years as CEO, Brian has transformed Hasbro. His vision to set a differentiated strategy for the company, including investing in new capabilities and establishing a new culture, has dramatically increased shareholder value,” said Ted Philip, Hasbro’s lead independent director.

“John has been integral in this success. Joining Hasbro ten years ago, his tremendous leadership and foresight has developed Hasbro’s global brand portfolio and teams into industry leaders.

“He will bring these same skills and insight to Hasbro’s board. Brian and John are leading a best-in-class organisation recognised globally for its standards of excellence.”

Goldner joined Hasbro in 2000. He was appointed CEO in 2008 and chairman of the board in 2015. He held several prior leadership positions at Hasbro, including COO from 2006 to 2008.

Goldner said: “With the support of Hasbro’s employees around the world, we have accomplished much over the past ten years, but this company and its talented teams have tremendous opportunity ahead of us.

“I am inspired every day by the dedication and creativity of our teams and excited to work alongside them for years to come. John is a tremendous asset to Hasbro and his vision for achieving our company’s potential is invaluable to both Hasbro and its board.”

Meanwhile, Frascotti was named president of Hasbro in February last year, having joined the company in 2008 as chief marketing officer. In 2014 he became president of Hasbro Brands.

“I am honoured to work alongside the tremendous talent here at Hasbro,” said Frascotti. “Brands, and what they stand for, mean more to consumers today than ever before. This is a unique opportunity and privilege. The future we see for Hasbro, for our brands and our teams, motivates me every day to develop amazing experiences for Hasbro consumers around the world.”

“Brian’s ability to drive transformative change is impressive, as his leadership has enabled Hasbro to emerge as one of the most profitable and forward-thinking companies in the toy and game industry,” said Bob Fisher, chairman of the board, Gap.

The Copyrights Group is one of the licensing arms within The Vivendi Group. Acquired by Vivendi in 2016 Copyrights manages the licensing for a portfolio of properties to include Paddington Bear. Some of the other companies within the Vivendi Group include Universal Music Group, and their licensing arm Bravado, Gameloft and Studiocanal to name a few.